When our child was born there was no question that my wife would stay home. We gave up an income but our child gained so much from having her mother with her everyday.

So how did we do it on just one income? We cut cost, big time! Yes, I gave up my fancy car, we gave up nice vacations, etc… but what we got back in terms of our child’s growth and happiness can not be judge in terms of dollars. The three of us live on one income and are very happy.

Life is about choices and in this case I choose the happiness of my child over material things. In very near future my wife will go back to work but I am so thankful my child had two great years with her mother.

Making the decision to step out of the work force to raise children can seem overwhelming. Some families consider it impossible to live on one income in today’s world of huge mortgages, large credit card balances and looming college costs. Yet some parents do manage to make the leap homeward.

How to survive as a one-income family (Page 1 of 3)

technorati tags:Living on One Income, child

One store in D.C. no longer will accept Cash as reported at slate.com

“The [tag]Snap Café[/tag] in Washington, D.C., made the news last week when it decided to stop accepting cash. If you want one of their crepes, you’ll have to pay with plastic.”

The article goes on to explain Government entities must accept cash but private business are not obligated by law to accept [tag]cash[/tag].

So Snap Café is with in their legal rights but I think it’s crazy and is a sign that our country is absolutely addicted to credit. This addiction will have sever negative financial implication on our nations for years to come. In essence we are mortgaging away our future as a nation. [tag]Debt[/tag] will Crush our future.

Sometimes it’s hard to think about wealth when the debt load is high. Compounding is the tool almost all “rich” people use to keep growing their wealth.

“Compounding,” Albert Einstein said, “is mankind’s greatest invention because it allows for the reliable, systematic accumulation of wealth.”

Getting rich is simpler than you think – MSN Money

technorati tags:debt load, wealth, debt

A growing trend that is not only effecting non-military personal now is starting to make an effect on those that can now serve. More and More military personal are racking up too much debt and are then unable to serve. They are considered a “risk”. The Pentagon says the debt load over 30% of their income can make them vulnerable to bribery and treason.

Is this a deliberate attempt to get out of serving? “While the number of revoked clearances has surged since the beginning
of the Iraq war, military officials say there is no evidence that
service members are deliberately running up debts to stay out of harm’s
way.”

Thousands of U.S. troops are being barred from overseas duty because they are so deep in debt they are considered security risks, according to an Associated Press review of military records.

Troops’ debt a growing security concern – Yahoo! News

technorati tags:military debt, too much debt, deep in debt

I agree with this article. If you are carrying high rate credit card debt then you should focus on getting rid of that first and then take on the mortgage. Some cards are as high as 30% so get rid of them!!!

Many homeowners dream of the day when their mortgage is finally paid off. They look forward to not making any more house payments and having the satisfaction of owning their home free and clear. Some homeowners try to use aggressive tactics to pay off their mortgage–tactics like having a 15-year term on their fixed-rate mortgage or a bi-weekly mortgage.

Find Real Estate News, Mortgage News, Home Loans and Homes for Sale on Yahoo! Real Estate

technorati tags:credit card debt, mortgage

As reported by MSN money the top 5 costly addiction are:

Alcohol: with an annual cost of $166 billion.

Smoking: With an annual cost of $157 billion

Drugs: With an annual cost of $110 billion

Over eating: With an annual cost of $107 billion

These numbers are amazing. The amount of money Americans spend on the top five could compete with the GDP of smaller nations.

When looking to increase income or pay off debt try cutting down on alcohol and cigarette.

Despite growing publicity about ‘soft’ addictions, drinking, smoking, drug abuse, overeating and gambling still are the most costly to society.

The 5 most expensive addictions – MSN Money

technorati tags:Alcohol, Smoking, Drugs, Over eating, addiction